Caterham reveals Formula 1 team logo

The team made its debut last year and raced as Team Lotus in 2011 but, after a long battle over its name, it will be renamed Caterham in 2012, with the current Renault team becoming Lotus.

Caterham revealed its new image on Wednesday.

Team boss Tony Fernandes insisted the Caterham move makes sense for his outfit.

"With Team Lotus, I would have battled to the end if I felt it was the right thing to do, but when you take a dispassionate look at where we were it made absolute sense to start with a clean sheet, and Caterham has given us that chance," said Fernandes in the team's magazine.

"It's the best possible solution for where we want to go - partly because it gives us complete control over everything we do and, obviously, because there's simply no point racing to promote a road car company I don't own. The road car business has always been a sector I've wanted to explore and so here we are.

"But I can't stress enough; this is a serious business venture for us. If I just needed a new name, I could have called it anything, but the synergy with Caterham works better - and it's what I do - take a small business with the correct core values and purpose and expand it and grow it into the global marketplace."